Tuesday, August 23, 2022
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Steico’s revenues improved by 27.1% to Euro 237.5 million in the first six months of 2022. Despite the more demanding environment, earnings and margins were at a pleasing level. EBITDA improved by 21.8% to Euro 50.4 million and EBIT lifted by 23.5% to Euro 38.5 million. The EBITDA margin in the first six months is 23.0%, the EBIT margin is 15.9%.
Inflation, supply chain difficulties and increasing interest rates are currently slowing economic expectations in the construction sector. In spite of this, however, STEICO’s management is continuing to take a positive view of the year as a whole. As a result of the strong trend to natural construction materials, the company expects that timber construction will remain strong in a more difficult market environment. In addition, as a result of the increasing costs of energy and increasing state subsidies, a substantial increase in renovation activities is also expected. Finally, the existing order backlog should have a stabilising impact on the construction industry – and in particular on timber construction.
STEICO develops, produces and markets ecological construction products made of renewable raw materials and is the global market leader for wood fibre insulation materials.
Tags: ebitda, Steico, woodworking and manufacturing, woodworking event, woodworking industry
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